A bustling shopping street in Bristol has been named the third best spot for independent shops in the UK. Gloucester Road, renowned for its local independent businesses, is among the nation’s hotspots, according to research by American Express’ Shop Small campaign.
American Express partnered with retail experts GlobalData to identify the top high streets for independent shops by ranking factors such as the number of independent outlets, variety of business types, and vibrancy of the high street. The list also took into consideration the number of Gen Z and Millennial independent business owners (those aged between 18-43) in each location, factoring in how these younger generations are “investing in the future success of UK high streets”.
Across the top ten hotspots, more than a third (36 per cent) of all business owners were found to be in these age cohorts, on average. The bustling Bristol road – which is actually the longest road of independent shops in the UK, spanning around 1.7 miles long and travelling through the suburbs of St Andrew’s, Bishopston, and Horfield – was beaten in this research by two streets in Lincolnshire and Yorkshire.
However, it beat the famous Byres Road in Glasgow, and even spots in Greater Manchester and London. The top 10 high street hotspots for independent shops is as follows:
- St Mary’s Street, Stamford, Lincolnshire
- Devonshire Street/Division Street, Sheffield, Yorkshire
- Gloucester Road, Bristol
- Market Street/Bridge Gate, Hebden Bridge, Yorkshire
- Stoke Newington Church Street, Hackney, London
- High Street, Narberth, Pembrokeshire
- Oldham Street, Manchester, Greater Manchester
- Bailgate, Lincoln, Lincolnshire
- Byres Road, Glasgow
- The Lanes, Norwich, Norfolk
Beyond their contribution to local communities, the research also revealed how living near a vibrant independent high street can benefit home valuations. GlobalData polled UK homebuyers asking about a range of factors they would consider paying extra for – the analysis showed that proximity to a high street full of vibrant independent businesses could potentially command an additional £12,000 on average.
The research is released ahead of this year’s Small Business Saturday (December 7, 2024), of which American Express is founder and principal supporter. Small Business Saturday is the UK’s most successful small business campaign and, across the years it has been running, it has ‘engaged millions of people and seen billions of pounds spent with small businesses across the UK on the day, with an impact that lasts all year round’.
As part of this year’s Shop Small campaign, American Express has pledged £100,000 worth of grants to small businesses. The Champion Small initiative encourages American Express Cardmembers to nominate their favourite independent small business, with ten set to receive a £10,000 grant. Those who nominate a business will be entered into a prize draw too, with a chance to win one of 50 x £1,000 statement credits. For more information, visit the Champion Small website or search ‘Amex Champion Small UK’.